Renault title sponsor ING has terminated its deal with the French car manufacturer with immediate effect on the back of the team being found guilty of fixing last year's Singapore Grand Prix.

Just days after Renault was handed a two-year suspended ban for its involvement in causing a crash in Singapore 12 months ago to help Fernando Alonso win, ING dropped a bombshell in the early hours of Friday morning when it announced it was ending its involvement in the team immediately.

ING's decision comes hours after Spanish insurance company Mutua Madrilena announced that it was also ending its Renault sponsorship deal as it felt the team's involving in the race fixing scandal amounted to a breach of contract.